Press Release

Latin America Device as a Service (DaaS) to Surge at a CAGR of Around 29.80% During 2024-2030

The Latin America Device as a Service (DaaS) Market is projected to grow at a CAGR of 29.80% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report.

Over the years, the fintech startups in Latin American countries have grown significantly due to the conducive working environment in these nations. These startups have restricted budgets owing to which they spend judiciously on their assets and require cost-effective solutions. Hence, these startups opt for the electronic hardware available on the lease or subscription-based payment model, resulting in enlarging the Latin America Device as a Service (DaaS) market size.

Additionally, the organizations extensively utilize these electronic products. As a result, over the years these hardware products need replacement. However, for small & medium-scale enterprises, the cost of purchasing new hardware is relatively higher. Therefore, these organizations increasingly rely on the DaaS solutions to fulfill the requirement of the hardware & software needs within the enterprises.

Moreover, the governing bodies in Latin American nations are laying the digitalization policies. Owing to this, the enterprises in the region are actively shifting towards online platforms. This necessitates the organizations to have essential hardware components. Thus, the different industry verticals in the region are adopting DaaS solutions, boosting market growth. Along with this, the government's encouragement to provide online services would continue to boost the need for computing devices. This would consequently uplift the demand for DaaS solutions in the forthcoming years, further states the research report, “Latin America Device as a Service (DaaS) Market Analysis, 2024.”

Latin America Device as Service (DaaS) Segmentation Analysis

IT/ITES & Telecom Leads the Latin America Device as a Service (DaaS) Market

Based on the End User segment, the market is further bifurcated into, IT/ITES & Telecom, Government, BFSI, Healthcare, Education, and Others (Retail, Law Firm, etc.). Of them all, IT/ITES & Telecom holds a dominant market share in the Latin America Device as a Service (DaaS) Market. Latin American nations have recorded a surge in mobile penetration owing to which the private telecom operators are expanding their networks in the region. For instance, in 2024, Telstra International, a telecom service provider, announced its expansion into Latin American countries to facilitate connectivity in the region, consequently, this is resulting in a higher requirement for computational devices. As a result, these IT & Telecom organizations are relying on the DaaS solutions, enhancing the Latin America Device as a Service Market growth.

Additionally, the governing bodies & private entities across the region are increasingly boosting the deployment of the 5G networks across the region. The increasing deployment of these 5G networks would continue to raise the need for HPC devices, enlarging the Latin America Device as a Service (DaaS) market in the forecast period.

Mexico Outperforms in the Latin America Device as a Service (DaaS) Market

Geographically, Mexico holds a prominent market share in the Latin America Device as a Service (DaaS) market. The official administrative bodies in the nation are increasingly reforming corporate taxes, which is creating a favorable business environment for foreign companies in the nation. Hence, several multinational companies have entered Mexico to expand their business operations. This expansion of the companies in Mexico necessitates the requirement for computational devices. As a result, enterprises in the country are adopting DaaS solutions, uplifting market growth.  

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Lenovo Group Limited, Hewlett Packard Enterprise Development LP, CompuCom Systems, Inc., Citrix Systems, Inc., Dell Inc., Microsoft Corporation, Amazon Web Services, Inc., HCL Technologies Limited, Ricoh América Latina, CSI Leasing, Inc., Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & services adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?